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Sunday, August 02, 2015

Philippines to buy submarines and advanced missile systems for the first time

For the first time, the Philippines will buy electric and diesel-run submarines, including advanced missile systems, as listed in its $22.11 billion (998 billion pesos or Dh83.166 billion) modernisation plan that was approved in July, to ensure its strength against China, Taiwan, Vietnam, Brunei, and Malaysia which have overlapping claims in the South China Sea, sources said.

“The Philippine Navy will buy several submarines and missile systems in the next five years from private manufacturing firms either from South Korea or Japan,” a military source who requested anonymity told Gulf News.

“The ambitious purchase was scheduled after the Philippine economy grew, received good ratings from rating agencies, and allowed borrowing for expensive war materials, but the Philippines could not yet match China’s 26 submarines,” said the same source.